DLA Piper advises Grupo Cobra on the Completion of Central-West Orana Renewable Energy Zone Transmission Network

Global law firm DLA Piper has advised Spanish-based Grupo Cobra on the successful completion of the Central-West Orana Renewable Energy Zone (REZ) Transmission Project in central New South Wales (NSW). 

This landmark project involves the design, financing, construction, operation, and maintenance of 330kV and 500kV clean energy transmission lines and associated system strength infrastructure. The project represents a concession period of 35 years, after which the asset will be handed back to EnergyCo.

José de Ponte, partner in DLA Piper’s Finance practice commented: “This project marks a significant milestone in the decarbonisation and stabilisation of the NSW electricity grid. We are proud to have played a pivotal role in Grupo Cobra’s first major concession project in Australia.

“This project is the first of its kind in Australia for the delivery of major, regulated, renewable energy transmission infrastructure through a PPP structure.”

The new transmission infrastructure will enable generators, such as solar and wind, and energy storage providers to connect to the grid, enhancing the region's renewable energy capabilities. 

Grupo Cobra, in partnership with ACCIONA and Endeavour Energy, was selected in December 2023 as the preferred network operator for this project by the NSW Government and was awarded the contract as network operator last week. Grupo Cobra is renowned for its expertise in water, gas, electricity, and communications distribution networks, and is a leader in renewable energies in Spain and Latin America.

"This first-of-its-kind transmission project specifically tailored to renewable energy generation will accelerate and significantly enhance the ability to deliver clean, affordable energy across New South Wales and beyond – supporting Australia's commitment to a low-emissions future," added Chris Mitchell, Partner and Head of Renewable Energy, DLA Piper Australia.

"Our dedicated team of more than 40 energy transition lawyers worked seamlessly across various teams and locations to successfully navigate the complexities of this project. Their collaboration and experience were instrumental in delivering this landmark renewable energy infrastructure," Chris added.  

Jesús Zapata, Country Managing Partner, DLA Piper Spain, added: “This project demonstrates the complex multi-jurisdictional advice we can provide, and we are delighted to have contributed to its success." 

Margarita Oliva, US-LatAm Practice Group Regional Co-Leader, Finance, DLA Piper concluded: "Our partnership with Grupo Cobra is a natural alignment of two global leaders. As a firm with a truly international footprint, we are uniquely positioned to support our clients across all their projects worldwide, while providing the highest level of legal and strategic guidance wherever their business takes them." 

The DLA Piper team was led by José de Ponte (Partner, Finance) with support in Australia from Chris Mitchell (Partner, Corporate), Alex Regan (Partner, Finance), Adam Smith (Partner, Tax), Gerry Bean (Senior Consultant, Corporate), Caroline Rowe (Special Counsel, Finance), Victoria Brockhall (Senior Associate, Finance), Tom Borland (Solicitor, Corporate) and Sophia Davies (Solicitor, Finance).

Internationally, the team was supported by Jesús Zapata (Partner, Finance), Paula Gonzalez de Castejon (Partner, IPT) and Alberto Rubio Medrano (Senior Associate, Finance) from the firm's Madrid office, and Margarita Oliva (US-LatAm Practice Group Regional Co-Leader, Finance) from the firm's New York office.